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in fact from kennedy to reagan to clinton to w. bush lower tax rates frequently increased tax revenues, particularly at the upper end of the income stream. so here now to discuss this we have cnbc contributor keith boykin a former clinton white house aide and forbes media chairman steve forbes author of freedom manifesto, why free markets are moral and big government is not. love that. hey steve and keith. keith boykin i'll give you a little supply side. you'll hate this. this couples from the irs. the irs is going to use the bush cut, the dreaded bush tax cuts. the richest 1% paid $84 billion inflation adjusted dollars more between 2000 and 2007. that's a rise of 23%. in other words, their tax rates went down. and their tax revenues went up. now, isn't mr. obama making a mistake? >> well, the rich are paying more in taxes because the rich are disproportionately receiving most of the income in this country. the reality, larry, is that in my lifetime we've actually only raised income tax rates three times. once in 1969 to pay for th
in fact from kennedy to reagan to clinton to w. bush lower tax rates frequently increased tax revenues, particularly at the upper end of the income stream. so here now to discuss this we have cnbc contributor keith boykin a former clinton white house aide and forbes media chairman steve forbes author of freedom manifesto, why free markets are moral and big government is not. love that. hey steve and keith. keith boykin i'll give you a little supply side. you'll hate this. this couples from the...
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>> it's not just the clinton tax rates. we had a pretty good economy under bill clinton. >> different spending rates, too, back then, governor. >> well, that's right. it's also cuts in defense which we haven't had in 30 years and a cut in human services, which i'd rather not do, but i think everybody needs to something on the table to get what we need to get. it's the best deal for the country. we'll have a recession. the cbo thinks and i agree with this, we'll have 1.3% negative growth for two quarters and we'll go back with a slightly less than 2% growth rate for the entire. we're not going to get out of this without pain. anybody when thinks we'll get through the deficit problem without having to do some sacrificing is wrong. what this does in my view as a democrat is it distributes the burden of the pain fairly, that is, we go back to the clinton tax rates for everybody, not just for rich folks. and we had a good economy under bill clinton. we go back -- we get -- cuts in defense spending which we know is higher than it
>> it's not just the clinton tax rates. we had a pretty good economy under bill clinton. >> different spending rates, too, back then, governor. >> well, that's right. it's also cuts in defense which we haven't had in 30 years and a cut in human services, which i'd rather not do, but i think everybody needs to something on the table to get what we need to get. it's the best deal for the country. we'll have a recession. the cbo thinks and i agree with this, we'll have 1.3%...
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. >> four days ago we offered a serious proposal based on testimony of president clinton's former chief of staff. since then there's been no counteroffer from the white house. instead, reports indicate that the president has adopted a deliberate strategy to slow-walk our economy right to the edge of the fiscal cliff. >> reporter: not surprisingly, democratic house leader nancy pelosi had precisely the opposite explanation for what is behind this stalemate. she says republicans simply echoing the white house are going to have to buckle on the issue of the top rates. >> the only obstacle standing in the way of middle income tax relief are the republicans unwillingness to ask the top 2% to pay their fair share. >> but tyler, as you suggested, this is all a work in progress. the thing we cannot see that is not visible to the public or to the press is what's going on behind the scenes. staff discussions resumed yesterday. don't know how fruitful. i haven't gotten much of a signal from people on either side that a deal is close, but they're work rg at it and sometimes these situations can tur
. >> four days ago we offered a serious proposal based on testimony of president clinton's former chief of staff. since then there's been no counteroffer from the white house. instead, reports indicate that the president has adopted a deliberate strategy to slow-walk our economy right to the edge of the fiscal cliff. >> reporter: not surprisingly, democratic house leader nancy pelosi had precisely the opposite explanation for what is behind this stalemate. she says republicans...
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want to ask you, one of the parts of the red line statement by president obama and secretary of state clinton, that if there was movement of any chemical weapons of mass destruction, movement -- now, as i listen to what you're saying, there hasn't been movement. it looks like they're getting ready where they are, but they haven't moved yet, so maybe they haven't violated the red line exactly. >> that's right, larry. they've got everything in place to do that. but what are the possibilities here? u.s. military officials say it would be very difficult to target certain areas. there are possibilities if they're going to load them on the planes. they could use cruise missiles to attack airstrips, for example. they can't blow up the weapons sites themselves, otherwise then the deadly gases could be spread among the public and kill thousands. the only other option according to some people that i've been talking to over the past couple of days is possibly take those cruise missiles and aim them not only at the airport strips, but at regime targets. even perhaps president assad himself. but so far, w
want to ask you, one of the parts of the red line statement by president obama and secretary of state clinton, that if there was movement of any chemical weapons of mass destruction, movement -- now, as i listen to what you're saying, there hasn't been movement. it looks like they're getting ready where they are, but they haven't moved yet, so maybe they haven't violated the red line exactly. >> that's right, larry. they've got everything in place to do that. but what are the...
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and then could be bush versus clinton again. >> governor, thank you very much. appreciate your time. >> honor to be with you. >> right now it's time for "squawk on the street." ♪ >> good tuesday morning. welcome to "squawk on the street." i'm melissa lee with carl quintanilla, jim cramer and david faber. we're live from post 9 at the new york stock exchange. a vacuum here in terms of u.s. economic data. none on top today. we're looking at a flat open across the board. as for europe, movement there. the buyback of greek debt will in fact work. we're seeing just fractions of a percent in terms of changes there. our road map this morning starts with the latest in the fiscal cliff negotiations. the white house promptly rebuffs the gop counterproposal which calls for $800 billion in new tax revenue but without tax rate increases for the wealthy. could this tax issue deadlock the talks? >>> bank of america ceo warns the cliff must get stalled or the economy could be stifled well into 2014. >>> even more dividends pushed into 2012. coach, american eagle moving up and
and then could be bush versus clinton again. >> governor, thank you very much. appreciate your time. >> honor to be with you. >> right now it's time for "squawk on the street." ♪ >> good tuesday morning. welcome to "squawk on the street." i'm melissa lee with carl quintanilla, jim cramer and david faber. we're live from post 9 at the new york stock exchange. a vacuum here in terms of u.s. economic data. none on top today. we're looking at a flat...
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even bill clinton agrees. here's what he said at a conference i saw him at back in may. >> i think you could tax me at 100% and you wouldn't balance the budget. we're all going to have to contribute to this and if middle class people's wages were going up again and we had some growth in the economy, i don't think they would object to going back to the tax rates. >> with no breakthrough today, fiscal cliff negotiations, could this be a starting pot? "outfront" republican congressman james lankford of oklahoma, incoming chairman of the republican policy committee, the fifth ranking position in the house gop leadership. appreciate you're taking the time. what about this idea of racinin taxes on everyone? the math works much better. >> i heard your lead in when you said this is a new idea. actually, it's not a new idea, there are several democrats who have floated that for a while. the code word is we want to go back to the clinton tax rates and talk about the clinton economy that we had a much more vigorous econo
even bill clinton agrees. here's what he said at a conference i saw him at back in may. >> i think you could tax me at 100% and you wouldn't balance the budget. we're all going to have to contribute to this and if middle class people's wages were going up again and we had some growth in the economy, i don't think they would object to going back to the tax rates. >> with no breakthrough today, fiscal cliff negotiations, could this be a starting pot? "outfront" republican...
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even bill clinton aagrees. here's what he said at a conference back in may. >> i think you could tax me at 100%, and you wouldn't balance the budget. we are all going to have to contribute to this. if middle class people's wages were going up again and we had some growth in the economy, i don't think they would object to going back to the tax rates that were there when i was predz. >> with now break through today and the fiscal cliff negotiations, is this a starting point? "outfront" republican congressman james langford of oklahoma, incoming chairman of the republican policy committee, the fifth ranking position in the house gop leadership. good to see you, sir. appreciate you taking the time. what about this idea of raising taxes on everyone? the math actually in this case is much more promising. it works much better. >> right. i heard your lead-in on it, and you said this is a new idea floated by howard dean. ints a new idea. several democrats have floated that a while. the code word is going back to the cli
even bill clinton aagrees. here's what he said at a conference back in may. >> i think you could tax me at 100%, and you wouldn't balance the budget. we are all going to have to contribute to this. if middle class people's wages were going up again and we had some growth in the economy, i don't think they would object to going back to the tax rates that were there when i was predz. >> with now break through today and the fiscal cliff negotiations, is this a starting point?...
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. >> the short list to succeed secretary of state, hillary clinton, susan rice is thought to be a leading contender, but some republicans have been highly critical of rice following the attack on the u.s. consulate in libya. >> when they go after the u.n. ambassador because they think she is an easy target, then they have a problem. >> senator mccain? >> thank you very much, mr. secretary. >> senator john mccain jokingly gave the nomination to john kerry. >> i think john kerry would be an excellent appointment and would be easily confirmed by his colleagues. >> he is listed also to replace leon pennetta. senior democrats say ashton carter is on the list and former nebraska senator, a republican, could represent a reach across the aisle. >> we are in a stronger position today as a country than we were in '07. >> tim geithner said he will stay at his post until inauguration. and the chief of staff is often named as a potential replacement. a poll asked if he thought president obama would pick good cabinet members. 58% said they thought he would. >> the u.s. military wants its people to be i
. >> the short list to succeed secretary of state, hillary clinton, susan rice is thought to be a leading contender, but some republicans have been highly critical of rice following the attack on the u.s. consulate in libya. >> when they go after the u.n. ambassador because they think she is an easy target, then they have a problem. >> senator mccain? >> thank you very much, mr. secretary. >> senator john mccain jokingly gave the nomination to john kerry. >>...
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. >> reporter: the likely short list to succeed secretary of state hillary clinton, is also politically charged. susan rice is thought to be a leading contender, but some republicans have been highly critical of rice following the attack on the u.s. consulate in libya. >> when they go after the u.n. ambassador, apparently because they think she's an easy target, then they've got a problem with me. >> senator mccain? >> thank you very much, mr. secretary. >> senator john mccain jokingly gave the cabinet post nod to democrat john kerry, the senate foreign relations committee chairman. >> i think john kerry would be an excellent appointment and would be easily confirmed by his colleagues. >> kerry is also list as a potential defense secretary to replace leon panetta. it's a list that includes michelle flornoy. and former nebraska senator, chuck hagel, a republican, could represent a teach across the aisle. >> we are in a stronger position today as a country than we were in '08. >> reporter: treasury secretary tim geithner said he will stay at his post at least until inauguration. and the c
. >> reporter: the likely short list to succeed secretary of state hillary clinton, is also politically charged. susan rice is thought to be a leading contender, but some republicans have been highly critical of rice following the attack on the u.s. consulate in libya. >> when they go after the u.n. ambassador, apparently because they think she's an easy target, then they've got a problem with me. >> senator mccain? >> thank you very much, mr. secretary. >> senator...
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clinton, hillary clinton will head to morocco. that's bag day. three days of talks with government on how to end bloodshed in syria. more than 40 thousand syrians have died in the 21-month conflict as you know. on wednesday go on twitter to catch the pope's first tweet from his personal account. we're going to answer questions about faith. there you go. you can actually follow the pope on twitter. in less than a week he's managed to get 600,000 followers. very popular guy. friday, time's person of the year. that's a big day. you may remember the protester was chosen. and on saturday, there we go, a potentially pivotal moment for the nation. indication the latest on it right here on cnn. there you have it. >>> thrn mooing south african leader nelson man doula is president. jacob zuma assures there's no cause for alarm but people are certainly wired about his health. we're joined from south africa. great to talk with you. what do we know in terms of nelson mandela's health? we're learning that he's going three extensive testing, is that right? the
clinton, hillary clinton will head to morocco. that's bag day. three days of talks with government on how to end bloodshed in syria. more than 40 thousand syrians have died in the 21-month conflict as you know. on wednesday go on twitter to catch the pope's first tweet from his personal account. we're going to answer questions about faith. there you go. you can actually follow the pope on twitter. in less than a week he's managed to get 600,000 followers. very popular guy. friday, time's person...
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take a listen. >> if their competitor in '16 is going to be hillary clinton supported by bill clinton and presumably a still relatively popular barack obama, trying to win that will be truly the super bowl, and the republican party today is incapable of competing at that level. >> let's talk about this with cnn contributors l.z. granderson and will cain. agree or disagree on gingrich's assessment? >> gingrich sounds like a detroit lions fan. he's so pessimistic heading into the super bowl. i tend to agree. i think a the lot of people i've spoken to inside the administration as well as just kind of political wonks like us, we all think that hillary is going to run and she's going to be an incredible candidate to try to defeat. with that being said, 2016 is a long ways away. we need to get through 2014. we need to get through the fiscal cliff first. i think we're getting ahead of ourselves by saying she's unbeatable, but she's certainly formidable if she decides to run. >> point out that hillary clinton at every step says she's not running. we'll go ahead and talk about it anyway. will,
take a listen. >> if their competitor in '16 is going to be hillary clinton supported by bill clinton and presumably a still relatively popular barack obama, trying to win that will be truly the super bowl, and the republican party today is incapable of competing at that level. >> let's talk about this with cnn contributors l.z. granderson and will cain. agree or disagree on gingrich's assessment? >> gingrich sounds like a detroit lions fan. he's so pessimistic heading into...
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the president's been very careful not to say we have to go up to the clinton-era 39.6%. he hasn't used that number. and so he's -- you know -- >> right now it's 35%. >> right now it's 35%. so if you look in the middle, okay, 37% is a real possibility. but here's the caveat. john boehner, the house speaker, cannot take a rate increase to his caucus unless it is accompanied by some signal of real entitlement cuts. something that they do now and give a down payment on for the future. i don't think you get -- could get rates through unless the president gave a little bit. and if you look at the document from the grand bargain back in july of 2011, the president was willing to give on that. so we'll have to see if they can get back to that. but again, has to be one significant item that they know they'll be able to build upon in the future. an item from both sides. >> neither side's going to be thrilled. but they've got to compromise. >> that's the way life usually works, doesn't it? >> certainly does. thank you. >>> meanwhile, huge announcement today on capitol hill. the con
the president's been very careful not to say we have to go up to the clinton-era 39.6%. he hasn't used that number. and so he's -- you know -- >> right now it's 35%. >> right now it's 35%. so if you look in the middle, okay, 37% is a real possibility. but here's the caveat. john boehner, the house speaker, cannot take a rate increase to his caucus unless it is accompanied by some signal of real entitlement cuts. something that they do now and give a down payment on for the future. i...
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there are actually two meetings between secretary clinton and the foreign minister. and you know, russia actually does -- this is one area where they do agree. russia is very much opposed to any type of use of chemical weapons and in fact secretary clinton thanked him for speaking about that which she did in brussels just yesterday, talking about that. although, brooke, you know, you have to say that the russians next breath say that they have raised that issue, in fact, with bashar al assad. the president of syria. and he assures them that there's no use intended and it is not a problem and, so, you kind of have two messages coming from the russians but you would have to say they're very much opposed to that and a lot of concern. >> so do they then -- do the russians believe assad when he assures them that he won't? and, are there new sign that is the russians might be waivering in their support of assad? >> reporter: you know, it's thoohard to say whether they believe it. you have to say at least on the surface they're saying we are taking him at his word that he w
there are actually two meetings between secretary clinton and the foreign minister. and you know, russia actually does -- this is one area where they do agree. russia is very much opposed to any type of use of chemical weapons and in fact secretary clinton thanked him for speaking about that which she did in brussels just yesterday, talking about that. although, brooke, you know, you have to say that the russians next breath say that they have raised that issue, in fact, with bashar al assad....
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secretary of state hillary clinton will attend a meeting where most attending countries already see the rebels in syria as a legitimate representative of the people. shelling and street fighting killed more than 130 people on one day alone this weekend. syrian rebel fighters now have control of the country's biggest city, aleppo. the people there have something new to fear now, something as frightening as civil war. cnn's arwa damon is there. >> reporter: crammed inside a tiny two-room home, the adults say they can handle the hunger. it's the children they worry about. there are 13 of them. as relatives moved in together after one family's home was destroyed. when we asked the kids what they ate today, the response is, nothing. mohammad, father before half the children here, tells us, "today i sent my brother to get bread at 6:00 a.m. look, it's 3:00 p.m. right now, and he hasn't gotten any. the kids haven't eaten." the power is out, as it has been for weeks. now the water is cut as well. there is a growing sense of desperation among people here. stalked by both hunger and danger. "god
secretary of state hillary clinton will attend a meeting where most attending countries already see the rebels in syria as a legitimate representative of the people. shelling and street fighting killed more than 130 people on one day alone this weekend. syrian rebel fighters now have control of the country's biggest city, aleppo. the people there have something new to fear now, something as frightening as civil war. cnn's arwa damon is there. >> reporter: crammed inside a tiny two-room...
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secretary of state hillary clinton is going to be meeting with her russian counterpart, sergey lavrov. this is a meeting that's going to take place in dublin later today. this is an effort to try to get the peace plan for syria back on track, a u.n. effort that's stalled for so many months now. there's not a lot of hope it will get back on track anytime soon. a lot of international powers and pressure being put on syria to try to comply with some sort of peace plan so this nightmare scenario doesn't come to any sort of fruition. zoraida? >> all right, we're talking about a deadly nerve gas, it is sarin. can you tell us what kind of damage could this do to the people there? >> reporter: it's well known that sarin and the use of sarin is a nightmare scenario. the use of it could kill a huge amount of people in a very short amount of time. now, last night, a former cia officer, robert bear, was speaking to anderson cooper. he described what the use of sarin could do. here's more of what he had to say. >> one round and the dispersion on that could be -- depends on the wind -- but you coul
secretary of state hillary clinton is going to be meeting with her russian counterpart, sergey lavrov. this is a meeting that's going to take place in dublin later today. this is an effort to try to get the peace plan for syria back on track, a u.n. effort that's stalled for so many months now. there's not a lot of hope it will get back on track anytime soon. a lot of international powers and pressure being put on syria to try to comply with some sort of peace plan so this nightmare scenario...
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secretary of state hillary clinton meeting today with the u.s. special envoy and russia's foreign minister. sources say the focus of the talks is formulating a plan on how to move forward with the crisis in syria. clinton noted growing concerns that the president may use chemical whelms eapons on his o people. >>> more than 330 people are dead in the philippines after a typhoon. >>> proof that we can sure light up the night sky. new video released by nasa. you can see the city lights from around the globe. it's so awesome. it took nine days for a satellite to capture these images. it needed 312 trips around the earth to take all of the approxima pictures. they were mapped over existing imagery of the earth to make this one impressive view. wow. >>> zynga, the game company that makes farmville wants to dabble in real money. online gambling. it filed an application for a gaming license in nevada. the only state that currently allows it. it could help zynga make up for lost revenue from other games. >>> it will take years for new jersey to recover f
secretary of state hillary clinton meeting today with the u.s. special envoy and russia's foreign minister. sources say the focus of the talks is formulating a plan on how to move forward with the crisis in syria. clinton noted growing concerns that the president may use chemical whelms eapons on his o people. >>> more than 330 people are dead in the philippines after a typhoon. >>> proof that we can sure light up the night sky. new video released by nasa. you can see the city...
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we need to go back to the clinton era rates for the most well off americans. it's not going to kill us. freedom of tyranny is not the 35 we pay now and the 39 that the rich will pay as we did when america was a communist paradise. it's just silly now. you've got to be for a tax rate increase or we will go over this fiscal cliff. >> no, you don't. you could raise from a carbon tax of $20 a ton, which will deal with, we are having the biggest record carbon levels. you could raise -- at 4% a year over the next ten year, twice as much as you could from allowing the bush tax rates to lapse. why the income tax system is overburdened in the united states. we use it too much. we should be looking at other taxes. we can't do it in 29 days. why are we doing it in 29 days? >> but the president ran on raises taxes, right? if you look at the polls. 60% of people support raising taxes on people who make over $250,000 a year. how much of a problem is it, david, if the republicans you know, tom coburn said he does not want to raise that tax number. >> the president ran on his
we need to go back to the clinton era rates for the most well off americans. it's not going to kill us. freedom of tyranny is not the 35 we pay now and the 39 that the rich will pay as we did when america was a communist paradise. it's just silly now. you've got to be for a tax rate increase or we will go over this fiscal cliff. >> no, you don't. you could raise from a carbon tax of $20 a ton, which will deal with, we are having the biggest record carbon levels. you could raise -- at 4% a...
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did he specify the 39.6% rate of the clinton years? he did not. so is there a little give ultimately to sort of say what if it doesn't go up to 39.6%, but say 37%, is that something the white house would accept? also, this that same interview, the president raised the possibility, which is that after you do tax reform and you close loopholes and deductions, that if the rate is raised, the top rate, there's always a possibility that after you do tax reform, of course, the top rate would then go down again. so it was -- you have to listen to the president very carefully to see where there might be some give. the problem from my point of view is that everybody knows what's got to be done in the long-term. it's the question of the short-term deal. >> john boehner, speaker of the house, he came up with a proposal. but not all the conservatives in the house and the senate are on board. jim demint, republican senator from south carolina. >> this is a time to negotiate with ourselves. we need to invite the president to work with us. his proposal was so ou
did he specify the 39.6% rate of the clinton years? he did not. so is there a little give ultimately to sort of say what if it doesn't go up to 39.6%, but say 37%, is that something the white house would accept? also, this that same interview, the president raised the possibility, which is that after you do tax reform and you close loopholes and deductions, that if the rate is raised, the top rate, there's always a possibility that after you do tax reform, of course, the top rate would then go...
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. >> secretary of state hillary clinton talking about egypt there. the country has been dealing with political turmoil and mass protest in the streets and there's a new twist today. egypt's supreme constitutional court has just issued a statement suspending its activity because of the protests. let's get more now from cnn's reza sayah that's in cairo. why did the court do this today? >> reporter: it looks like they were worried about their safety, randi." this is a big development, and these opposition factions behind us around going to like this, but this seems to shift the momentum in favor of the president and his supporters. this was the top court in egypt. they canceled a hearing where they were about to rule on the constitutionality of president morsi's decrees last week, and the constitutionalityality of this special panel that did the draft constitution. the government did a dismal black day, and the statement said they tried to walk in the courthouse, and the demonstrators in favor of the president had blocked the -- and climbed the walls an
. >> secretary of state hillary clinton talking about egypt there. the country has been dealing with political turmoil and mass protest in the streets and there's a new twist today. egypt's supreme constitutional court has just issued a statement suspending its activity because of the protests. let's get more now from cnn's reza sayah that's in cairo. why did the court do this today? >> reporter: it looks like they were worried about their safety, randi." this is a big...
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a combination of allowing the rates on high earners to go back up to what they were under president clinton, and reducing the value of tax deductions and other tax benefits that they get. before i get to how much can be raised by the second, let me just say the president is very, very supportive of curbing tax deductions for high-income households. it's been a part of his plan from his very first budget. in fact, he was and remains the only major leaguer in washington that has put forward a specific, explicit plan that would limit those tax benefits for high- income households that's been examined by the joint committee on taxation, which is the official referee for these issues in congress. that plan, though, doesn't raise the revenue that you need. so out of the president's $1.6 trillion, $950 billion comes from decoupling. decoupling is the high-income rates going away, the middle- class tax cuts becoming permanent. that gets you $950 billion of revenue. the question is could you plausibly replace that revenue just by limiting tax expenditures. there have been lots of different ideas out
a combination of allowing the rates on high earners to go back up to what they were under president clinton, and reducing the value of tax deductions and other tax benefits that they get. before i get to how much can be raised by the second, let me just say the president is very, very supportive of curbing tax deductions for high-income households. it's been a part of his plan from his very first budget. in fact, he was and remains the only major leaguer in washington that has put forward a...
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bush or president bill clinton, or president george w. bush or president barack obama, the truth is, at the time they were elected president, we as a nation, overall, got the president we deserved at that time. now, one of the most impressive speeches i've ever heard was given by senator barack obama at the democratic convention, and i love the way he talked about america coming back as one america. not a red america or blue america but america. just one country. and it's one of the things that i drew great hope from on 9/12 delsh 2001 as people of the country -- on 9/12/2001 as people of the country gathered around, as we did in our east texas town, and we all held hands and we sang hymns and patriotic songs and you look -- i look around the circle and was deeply moved because i knew that day there were no hyphenated americans. there were just americans. and we were together. and everybody standing there in that square holding hands, we shared the love for our country. we wanted to see it strong. we wanted to see it recover from that dev
bush or president bill clinton, or president george w. bush or president barack obama, the truth is, at the time they were elected president, we as a nation, overall, got the president we deserved at that time. now, one of the most impressive speeches i've ever heard was given by senator barack obama at the democratic convention, and i love the way he talked about america coming back as one america. not a red america or blue america but america. just one country. and it's one of the things that...
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we had higher tax rates under clinton and then lower tax rates under bush. these are policies we have passed in this country that have led to this. it has primarily been under republican leadership. if it does not mean democrats don't have some responsibility. host: peter welch is our guest until the top of the hour. the democrat from vermont, the chief deputy whip for the house leadership on the democratic side. we're talking about the so called "fiscal cliff" and our cameras have been covering all the events here in washington as both sides tried to negotiate their argument with. if you go to our web site, c- span.org, we have a special web pages at a side on the fiscal cliff and you can also send in your tweets. we will go to payton next in london, kentucky, a democrat. caller: thank you. i am one of the original baby boomers. i live in one of the poorest areas in the country, which is also heavily republican area of the country. i have always felt [indiscernible]. host: we are losing you. caller: this constant living curtailment from the republicans is a
we had higher tax rates under clinton and then lower tax rates under bush. these are policies we have passed in this country that have led to this. it has primarily been under republican leadership. if it does not mean democrats don't have some responsibility. host: peter welch is our guest until the top of the hour. the democrat from vermont, the chief deputy whip for the house leadership on the democratic side. we're talking about the so called "fiscal cliff" and our cameras have...
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Dec 8, 2012
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four days ago, we offered a serious proposal based on testimony of president clinton's former chief of staff. since then, there has been no counteroffer from the white house. instead, reports indicate that the president has adopted a deliberate strategy to push our economy right to the edge of the fiscal cliff. instead of reforming the tax code and cutting spending, the president wants to raise tax rates. even if the president got the tax rate hike he wanted, understand we will continue to see $1 trillion deficits for as far as the eye can see. washington has got a spending problem, not a revenue problem. if the president does not agree with our proposal, we believe he has got an obligation to families and small businesses to offer a plan of his own, a plan that can pass both chambers of the congress. we are ready and eager to talk to the president about such a plan. >> you spoke with the president this week. how do you characterize that call? also, we understand that he is making clear that it will have to be increasing rates for the wealthy or no deal. are you willing to give a littl
four days ago, we offered a serious proposal based on testimony of president clinton's former chief of staff. since then, there has been no counteroffer from the white house. instead, reports indicate that the president has adopted a deliberate strategy to push our economy right to the edge of the fiscal cliff. instead of reforming the tax code and cutting spending, the president wants to raise tax rates. even if the president got the tax rate hike he wanted, understand we will continue to see...
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bush and clinton administrations. both of you went to the same university. i'm sure you can agree on everything today. dr. zandi first. >> thank you for the opportunity. it is an honor to be here with kevin, a good friend of mine. let me say that these are my own personal views. they don't represent the views of the moody's corporation. lawmakers have to resolve three issues -- first, the fiscal cliff. second, raising the treasury debt ceiling, which as you know is becoming an issue rarely soon. -- an issue fairly soon. third, achieving long-term fiscal sustainability. that is deficit reduction and tax increases and spending cuts that allow the gdp ratio to stabilize by the end of the decade. these three things need to be done now. in terms of the fiscal cliff, if policy is unchanged and we go over the cliff and there is still no change after that, the gdp in 2013 will 3.5 percentage points. subtract that and that is a severe recession. cbo and others are probably us are underestimating how severe that will be because confidence is very weak. it is unclear h
bush and clinton administrations. both of you went to the same university. i'm sure you can agree on everything today. dr. zandi first. >> thank you for the opportunity. it is an honor to be here with kevin, a good friend of mine. let me say that these are my own personal views. they don't represent the views of the moody's corporation. lawmakers have to resolve three issues -- first, the fiscal cliff. second, raising the treasury debt ceiling, which as you know is becoming an issue...
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secretary clinton was in algeria to discuss mali among other issues approximately a month ago. the third challenge in mali is terrorism. we are gravely concerned about the presence and activities of terrorists and extremist groups in northern mali. al qaeda in the islamic ma grag, the movement for unity and jihad in west africa known as mujoa, and other affiliated groups have exploited the political unrest created by the march coup and the northern rebel ynt to expand their safe havens in northern mali and to impose their ideology on local communities throughout the northern part of the country. while these tactics remain alien to the vast majority of the population and the affected areas, aqim has established at least temporary relationships with a number of groups in northern mali and currently control the key cities of timbuktu, gal, and kid al. any attempt to militarily ouset a qim must be african led. it must be malian led. it must be well planned, well organized and well resourced to be successful. military plans must also account for civilian security and humanitarian ne
secretary clinton was in algeria to discuss mali among other issues approximately a month ago. the third challenge in mali is terrorism. we are gravely concerned about the presence and activities of terrorists and extremist groups in northern mali. al qaeda in the islamic ma grag, the movement for unity and jihad in west africa known as mujoa, and other affiliated groups have exploited the political unrest created by the march coup and the northern rebel ynt to expand their safe havens in...
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long tradition in arkansas, let's not forget one of the great presidents of the united states, bill clinton. we work hard down there but i can't get too specific on our prospects there yet. >> if i could return to the administration for a minute, governor. obviously, some governors are lobbying the white house on what they would like to see happen in some of the fiscal cliffs negotiations and some of the cut thass republicans and others want to make in these negotiations could impact state budgets. what do you see as your bottom line and what the cuts cannot do? -- or should not do. >> let's be clear about this, the president has this one right. we cannot balance this budget and make the changes we need to make in terms of the fiscal cliff, or or what i call the fiscal slope without ensuring that we ask the top 1% or 2% of the americans pay their fair share in income taxes. we all know that the top 1% or 2% is paying lower income taxes than any time in our history. they've had a great deal, president bush set that up for them but we as nation did better under the clinton tax policies where
long tradition in arkansas, let's not forget one of the great presidents of the united states, bill clinton. we work hard down there but i can't get too specific on our prospects there yet. >> if i could return to the administration for a minute, governor. obviously, some governors are lobbying the white house on what they would like to see happen in some of the fiscal cliffs negotiations and some of the cut thass republicans and others want to make in these negotiations could impact...
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host: what do you think about hillary clinton's future, hillary clinton in 2016? >> i think hillary clinton is the next logical step in a progressive society in america that we need. my grandfather was a democrat in delaware, he served two terms and i think -- i think she's what we really need. and i think that's what we need for the country to move ahead. host: steven an independent in connecticut. good morning to you. caller: good morning, thanks for taking my call. i really like hillary clinton, i think she's a hard worker, i think her old man is a hard worker too and whitewater was like three wars ago. it's a long time ago. but i'd like to see jeb bush also run against hillary clinton. i think those are two no nonsense personalities that can move our nation forward. thanks. host: so hey, steven, if jeb bush, if it's a bush-clinton race, for whom would you vote? caller: oh, gosh. i would lean toward jeb at this point because he has been really pushing education and education is one of my things. so right now he's got me. host: that's stephen, independent. who d
host: what do you think about hillary clinton's future, hillary clinton in 2016? >> i think hillary clinton is the next logical step in a progressive society in america that we need. my grandfather was a democrat in delaware, he served two terms and i think -- i think she's what we really need. and i think that's what we need for the country to move ahead. host: steven an independent in connecticut. good morning to you. caller: good morning, thanks for taking my call. i really like...
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one of the great presidents, bill clinton. we work very hard down there. tooannot get t specific of our prospects. >> some governors have been lobbying the white house on what they would like to see happen in some of the fiscal cliff negotiations and some of the cuts that republicans want to make in these negotiations could impact the state budget. what do you see as your bottom line and what the cut cannot do? >> let's be clear about this. the president has got this one right. we cannot balance this budget and make the changes we need to make in terms of the fiscal cliff without insuring that we ask the top 1% or 2% to pay their fair share in taxes. they're paying lower income taxes than in almost any time in our history since we implemented income tax. they have had a great deal. president obama said that up for them. -- president bush set that up for them. we ask the wealthy to pay for their fair share. what we had was economic prosperity. when you see the gains they're playing in congress right now, to suggest he could do this with deductions is not tr
one of the great presidents, bill clinton. we work very hard down there. tooannot get t specific of our prospects. >> some governors have been lobbying the white house on what they would like to see happen in some of the fiscal cliff negotiations and some of the cuts that republicans want to make in these negotiations could impact the state budget. what do you see as your bottom line and what the cut cannot do? >> let's be clear about this. the president has got this one right. we...
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so, hillary clinton i am for. i think it is really hard for a lot of presidents because the number one thing is to keep our ego out of it. i strongly support hillary clinton. i am very strong for education. i know that her being a democrat, i know that she would support obamacare and continue to support it and would not damage it in anyway. being a person who is impaired, i really appreciate that. host: last month there was a tribute, a video tribute, to hillary clinton. [video clip] >> she has put that all together in the pinnacle up until now in her public service which has in deer herd to millions and millions of people all over the world then the. ♪ >> she has been a splendid representative of the united states. >> she is doing it [indiscernible] ♪ >> in the end, it is not about being a good politician. it is about being a human being. >> we have always pushed human potential and promise forward. if you vbet on the side of human rights, human dignity, more countries may have the same extraordinary good for
so, hillary clinton i am for. i think it is really hard for a lot of presidents because the number one thing is to keep our ego out of it. i strongly support hillary clinton. i am very strong for education. i know that her being a democrat, i know that she would support obamacare and continue to support it and would not damage it in anyway. being a person who is impaired, i really appreciate that. host: last month there was a tribute, a video tribute, to hillary clinton. [video clip] >>...
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on january 1 we go back to the clinton tax rates on everybody. number two, there's the beginning of a process of $1.2 trillion in spending cuts from the -- half from the pentagon and half from domestic spending. it would be gradual. so if we got to january 1 with nothing done, congress would still have time to act in both areas before the impact of those policies took effect. host: if congress disagree -- if investors start to doubt a deal could be reached, the consequences could prove to be severe and difficult to reverse. causing consumers and businesses to retrench, dampening investment. a genie you could not put back in the bottle. guest: i think there is some basis for that. what's happened in congress, it's been dysfunctional, is that we are doing things not by steady negotiations but by super brinksmanship. that's what happened in the debt ceiling fight last august. that's what happened in the budget debate in december of 2011. when we went right up to the midnight hour to determine whether we were going to keep the lights on in government
on january 1 we go back to the clinton tax rates on everybody. number two, there's the beginning of a process of $1.2 trillion in spending cuts from the -- half from the pentagon and half from domestic spending. it would be gradual. so if we got to january 1 with nothing done, congress would still have time to act in both areas before the impact of those policies took effect. host: if congress disagree -- if investors start to doubt a deal could be reached, the consequences could prove to be...
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that is what bill clinton second term was about. he could keep him from getting to that point of bringing everything to gavel. >> this came from his best friend who runs a parking company. he said obama has been ridiculed in his brain. he is constantly working the room excuse to get the right conversation to move them forward. he's always thinking a few steps ahead. if i did eight incident be they would to see -- if i do a and they do b, it would be c. he was in this particular kind of business. he wanted to be in a longer- term business. he did not make enough concessions to the day-by-day noise of washington. >> i call this his pregame aptitude. he plays the game before the players take the field. the trick is when you get to be president. it can create a kind of reticence, a step back quality that you missed. all those variables change. >> i think he is learning. i altered his landscape. as i do that, i am ahead of the pack. >> you're talking about striving for greatness. he is going to need to strive for greatness and reorganize
that is what bill clinton second term was about. he could keep him from getting to that point of bringing everything to gavel. >> this came from his best friend who runs a parking company. he said obama has been ridiculed in his brain. he is constantly working the room excuse to get the right conversation to move them forward. he's always thinking a few steps ahead. if i did eight incident be they would to see -- if i do a and they do b, it would be c. he was in this particular kind of...
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restoring the clinton tax rates is something i would support. we supported them back in 1991 when bill clinton was running for president. no problem on that. it is a reasonable adjustment, but may not be sufficient to reach the targets we need and it does not help us in bipartisan bargaining, reaching a deal. i hope as this negotiation -- we ought to be at the irish times -- that they will not make a fetish of marginal tax rates street if they should go up some, but do they need to go back where they work? i do not know. lots of ways to increase taxes on rich people, and it may be that a hybrid of marginal tax increases and the kind of base- broadening loophole closing expenditure closing that simpson-bowles proposed should be part of the mix. raising marginal rates does not guarantee you will get your intended target. a very rich people depend more on investment income than on their labour income. if you want to get them -- and this is where mitt romney was able to pay a 14% tax rate on earnings of $14 million -- so if you are trying to get the
restoring the clinton tax rates is something i would support. we supported them back in 1991 when bill clinton was running for president. no problem on that. it is a reasonable adjustment, but may not be sufficient to reach the targets we need and it does not help us in bipartisan bargaining, reaching a deal. i hope as this negotiation -- we ought to be at the irish times -- that they will not make a fetish of marginal tax rates street if they should go up some, but do they need to go back...
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also, a piece on hillary clinton. president truman's oldest grandson, who was the first truman to travel to japan. tonight on c-span 3, a look at hiroshima. a talk with his trip and what he learned it. learned through his words teacher made that his grandfather went through and now he went through in hiroshige of. 6:00 for those on the west coast on c-span 3. here is a preview. [video clip] >> i tried to look down and i saw so many dead bodies floating on the surface. people --'s so many the people suffered from the burned bodies. they went into water. it jumped into the river. >> that was a survivor of the bombings in hiroshima telling her story for the first time to daniel on his first visit to the two cities where the bomb was dropped the in 1945. you are listening for the first time. what did you see your role as as you were listening to it? >> just to be there to listen to her and to let her speak and to let her do this for the first time. >> for her understanding she was talking to the grandson of the man who ma
also, a piece on hillary clinton. president truman's oldest grandson, who was the first truman to travel to japan. tonight on c-span 3, a look at hiroshima. a talk with his trip and what he learned it. learned through his words teacher made that his grandfather went through and now he went through in hiroshige of. 6:00 for those on the west coast on c-span 3. here is a preview. [video clip] >> i tried to look down and i saw so many dead bodies floating on the surface. people --'s so many...
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host: secretary of state hillary clinton early in december talked about hiv and aids and where we are in research, and said and aids free generation is not just a rallying cry, but the goal within our reach. what do you think of the statement and what does it mean for your organization, dr. fauci? guest: thank you for the question. secretary clinton has been a leader on the concept, and she introduced the concept of an aids-free generation, and the point she is making is 31 years into the pandemic we have the tools based on clinical research -- prevention tools, and diagnostic tools and treatment tools to turn around dramatically the projection of the pandemic globally. we are already starting to see that. it is a matter of implementing these things. treatment is striking -- the difference between 30 years ago in what we do now, not only to save the lives of individuals, but when you treat someone that is hiv infected and you bring down the level of virus to blow a detectable level, you -- -- to be lower deductible -- detectable level, you dramatically decrease the chance they would i
host: secretary of state hillary clinton early in december talked about hiv and aids and where we are in research, and said and aids free generation is not just a rallying cry, but the goal within our reach. what do you think of the statement and what does it mean for your organization, dr. fauci? guest: thank you for the question. secretary clinton has been a leader on the concept, and she introduced the concept of an aids-free generation, and the point she is making is 31 years into the...